The New One -Sen Tick

Yes, these must be desperate times!

Ranked as the worst performing stock market in a recent survey, Bursa KL is scratching its head on how to improve the volume of shares traded as well as to make it attractive to foreigners.

So one way to attract volume they thought will be to implement the one-sen tick.

From Monday, 27 July 2009, you will see shares being quoted with a one-sen difference across the board.

In the past, if share prices were below RM1, they would be quoted in 1/2 sen to 1 sen difference. When it is above RM1 to RM4.99, it would be quoted with a 2 sen difference. From RM5.00, it was quoted at 5 sen intervals and above RM10-with a 10 sen difference. Shares above RM50 such as BAT will be quoted with a 50 sen difference.

Do you think more shares will be traded with the one-sen tick in place or for that matter; will foreign investors be beguiled to trade with a vengeance on Bursa because of this petty difference from Monday onwards?

Come Monday and we will know.

Tanjong Plc AGM

Today was Tanjong Plc's AGM.

After fumbling at the registration counter, I finally got registered at the H-L counter. They were generous-a door-gift of RM50 gift voucher tenable at any food outlet except the Wasabi Japanese outlet, was given to both shareholders and proxies. Guess the Japanese guys thought they were exclusive and want the riff-raff out of the way!

They also gave shareholders and proxies two complimentary tickets to Tanjong Village cinema shows.

As for the breakfast, there was satay and timsum besides the regular fare. As usual human crows flew in and played ( including gate-crashers)the grabbing game and tahpau all the satays and timsum.

I have to contend myself with a plate of meehoon and fried rice, a piece of martabab,bread pudding and fruits.

Even the drink stations ran out of cups and tea. I was fortunate to have a cup of bitter coffee.

What an AGM! A lady was busy taking photos of the mad rush as old ladies grab at timsum trays!

Something must be done about these human parasites. The PR Department of Tanjong must come out with a fresh new way to control such wanton behaviour from recurring.